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2024-03-31-accounts

Company registration number: 04258284 Charity registration number: 1090345

Upperthorpe & Netherthorpe Healthy Living Centre Trust

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2024

Upperthorpe & Netherthorpe Healthy Living Centre Trust

Contents (continued)

Trustees' Report 1 to 4
Statement of Trustees' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 16

Upperthorpe & Netherthorpe Healthy Living Centre Trust

Trustees' Report

Reference and Administrative Details

The trustees (who are also directors of Upperthorpe & Netherthorpe Healthy Living Centre Trust for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS102) in preparing the annual report and financial statements of the charity.

Charity registration number : 1090345 Company Registration Number : 04258284 Trustees: A M D Butcher (appointed 4 December 2023) M Dean K M Daubney (appointed 4 December 2023) T Hunt (resigned 19 June 2023) L McClean (appointed 19 June 2023) L C Smith D S Thornett Secretary: S Markham Registered Office : 18 Upperthorpe Sheffield South Yorkshire S6 3NA Independent Examiner: Hawsons Chartered Accountants Pegasus House 463a Glossop Road Sheffield South Yorkshire S10 2QD Solicitors : Taylor Bracewell 17-23 Thorne Road Doncaster South Yorkshire DN1 2RP

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Trustees' Report (continued)

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.

Structure, governance and management

The charitable company is controlled by its governing document, its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee as defined by the Companies Act 2006.

Trustees

During the year Trustees were nominated by the two partner organisations. Netherthorpe and Upperthorpe Community Alliance (NUCA trading as Zest) had two trustee places and Sheffield City Council had one trustee place.

Objectives and activities

The first object of the charity as defined in the memorandum and articles of association is:

In addition the charity has other objects relating to the provision of recreational facilities, education and training and other charitable purposes. Further details of the charity's objects are set out in the charity's memorandum and articles of association.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake.

NUCA (trading as Zest) continued to manage the Healthy Living Centre on behalf of the charity and so the charity paid a grant to Zest to help cover its costs. The grant is equivalent to Sheffield City Council's service level agreement, but less costs incurred by Upperthorpe & Netherthorpe Healthy Living Centre Trust.

The Zest Centre: Library Service

The library has supported 5 in house Zest groups for all ages over the year including toddlers, dementia friendly groups, craft groups and English lessons. In addition; partner organisation; ReadEasy, who work in Adult Literacy have started sessions here. There are 3 new volunteers and 1 who went on to gain employment. 4 events have been held, including an author presentation from Joanne Clague who grew up in Upperthorpe, our AGM, a Christmas event and a really successful Zest 25th Birthday event!

The Zest Centre: Food works Cafe

The Food Works Upperthorpe continues to be an amazing resource for everyone who visits the Zest Centre. Providing delicious value meals to the community the cafe has been a major support hub during the cost-of-living crisis with its Pay What You Can Afford and Just Meals offerings.

Whether it’s an after-swim coffee with friends or popping in for a bite to eat from the delicious food on offer the cafe is there for everyone. But as well as the great food the cafe has worked with Zest for Work to support its Multiply initiative using cooking to help adults with their arithmetic.

Service highlights

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Trustees' Report (continued)

The Zest Centre: Leisure Service

“What a brilliant find! Found this remarkable friendly place, this is something else.”

This period focussed on expanding leisure offerings to better serve the community:

Service highlights

What’s on the horizon

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Trustees' Report (continued)

Financial review

The charity has made a deficit for the year of £95,863 (2023: £94,423). Unrestricted funds are showing a deficit of £15,471 (2023: £14,031) before transfers. Restricted funds are showing a deficit of £80,392 (2023: £80,392) before transfers for the year. At 31 March 2024 total fund balances were £766,407 of which £97,060 were unrestricted and £669,347 were restricted.

At the end of the year there were freely available unrestricted reserves of £2,294 (2023: £2,387).

It is the policy of the charitable company that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charitable company’s current activities while consideration is given to ways in which additional funds may be raised.

It is the policy of the charity to invest any surplus funds held in line with its reserves policy in low risk investments i.e. bank deposit accounts.

The Trustees reviewed the charity's reserves policy and agreed on a policy for the year whereby the charity will maintain cash reserves in order to cover costs other than the grant funding service level agreements.

Risk Management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. During 2023/24 the trustees received reports and held meetings to assess financial and other risks to the company and agreed strategies to mitigate key risks.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charitable company on .................... 16/12/2024 and signed on its behalf by:

......................................... L C Smith Trustee

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Statement of Trustees' Responsibilities

The trustees (who are also the directors of Upperthorpe & Netherthorpe Healthy Living Centre Trust for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies.

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Independent Examiner's Report to the trustees of Upperthorpe & Netherthorpe Healthy Living Centre Trust ('the Company')

I report to the charitable company's trustees on my examination of the accounts of the charitable company for the year ended 31 March 2024 which are set out on pages 7 to 16.

Responsibilities and basis of report

As the charitable company’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of Upperthorpe & Netherthorpe Healthy Living Centre Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charitable company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

...................................... Simon Bladen FCA

Pegasus House 463a Glossop Road Sheffield South Yorkshire S10 2QD

17/12/2024 Date:.............................

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Statement of Financial Activities for the Year Ended 31 March 2024

Unrestricted Restricted Total Total
funds funds 2024 2023
Note £ £ £ £
Incoming resources
Grants receivable 2 - 80,000 80,000 80,000
Total incoming resources - 80,000 80,000 80,000
Resources expended
Charitable activities 3 15,471 160,392 175,863 174,423
Total expenditure 15,471 160,392 175,863 174,423
Net outgoing resources (15,471) (80,392) (95,863) (94,423)
Transfers between funds (39,761) 39,761 - -
Net movement in funds (55,232) (40,631) (95,863) (94,423)
Reconciliation of funds
Total funds brought forward 152,292 709,978 862,270 956,693
Total funds carried forward 97,060 669,347 766,407 862,270

The notes on pages 9 to 16 form an integral part of these financial statements. Page 7

Upperthorpe & Netherthorpe Healthy Living Centre Trust

(Registration number: 04258284) Balance Sheet as at 31 March 2024

2024 2023
Note £ £
Fixed assets
Tangible assets 6 764,113 859,883
Current assets
Cash at bank and in hand 54,954 3,251
Creditors: Amounts falling due within one year 7 (52,660) (864)
Net current assets 2,294 2,387
Net assets 766,407 862,270
Charity funds
Restricted funds 8 669,347 709,978
Unrestricted funds 9 97,060 152,292
Total charity funds 766,407 862,270

For the financial year ending 31 March 2024 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on 16/12/2024 .................... and signed on their behalf by:

......................................... L C Smith Trustee

The notes on pages 9 to 16 form an integral part of these financial statements. Page 8

Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024

1 Accounting policies

The following accounting policies have been used consistently in dealing with items which are considered material to the charitable company’s affairs.

Statutory information

Upperthorpe & Netherthorpe Healthy Living Centre Trust is a company (No. 04258284) and charity (No. 1090345) domiciled in England and Wales The address of its registered office is: 18 Upperthorpe, Sheffield, South Yorkshire, S6 3NA.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Basis of preparation

Upperthorpe & Netherthorpe Healthy Living Centre Trust meets the definition of a public benefit entity under the Charities SORP (FRS 102). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Incoming resources

Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Grants received are allocated between activities and between restricted and unrestricted funds according to their nature.

Taxation

The charitable company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charitable company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

1 Accounting policies (continued)

Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are recognised in the year in which they are incurred.

Charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes grants made to projects, costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include audit fees, independent examination fees and costs linked to the strategic management of the charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource and include irrecoverable VAT.

Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Depreciation and amortisation

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Individual fixed assets costing more than £500 are capitalised.

Depreciation is calculated to write down the cost less estimated residual value of all tangible fixed assets held for charity use other than freehold land by equal annual instalments over their expected useful lives. The rates generally applicable are:

Asset class Depreciation method and rate Leasehold buildings straight line over the life of the lease Plant and machinery 10%, 20% and 33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

1 Accounting policies (continued)

Impairment of fixed assets

At each reporting end date, the charitable company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/(expenditure) for the year, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

Judgements

In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. There are no judgements or estimates which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

2 Income

2
Income
2024 2023
£ £
Grants income
Sheffield City Council 80,000 80,000
80,000 80,000
3
Charitable activities
2024 2023
£ £
Depreciation 95,770 95,770
Bank charges 93 93
Grant funding 80,000 78,560
175,863 174,423
2024 2023
£ £
Unrestricted fund 15,471 15,471
Restricted fund 160,392 158,952
175,863 174,423
4
Grants payable
2024 2023
£ £
Netherthorpe and Upperthorpe Community Alliance 80,000 78,560

5 Trustees remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charitable company during the year (2023: £Nil).

No trustees have received any reimbursed expenses from the charity during the year (2023: £Nil).

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

6 Tangible fixed assets

6
Tangible fixed assets
Furniture
Leasehold and
buildings equipment Total
£ £ £
Cost
At 1 April 2023 2,563,404 105,628 2,669,032
At 31 March 2024 2,563,404 105,628 2,669,032
Depreciation
At 1 April 2023 1,703,521 105,628 1,809,149
Charge for the year 95,770 - 95,770
At 31 March 2024 1,799,291 105,628 1,904,919
Net book value
At 31 March 2024 764,113 - 764,113
At 31 March 2023 859,883 - 859,883

The leasehold property owned by the charitable company is subject to a legal charge held by The Secretary of State for Health for £499,152.

7 Creditors

7
Creditors
2024 2023
Amounts falling due within one year £ £
Due to group undertakings 52,660 864

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

8 Restricted funds

8
Restricted funds
Balance at Balance at
1 April Incoming Resources 31 March
2023 resources expended Transfers 2024
£ £ £ £ £
2024
The Building Complex Fund 537,976 - (59,776) 39,761 517,961
Zest Improvement Fund 172,002 - (20,616) - 151,386
Core Management Admin
and Finance - 80,000 (80,000) - -
Total funds 709,978 80,000 (160,392) 39,761 669,347
Balance at Balance at
1 April Incoming Resources 31 March
2022 resources expended Transfers 2023
£ £ £ £ £
2023
The Building Complex Fund 597,752 - (59,776) - 537,976
Zest Improvement Fund 192,618 - (20,616) - 172,002
Core Management Admin
and Finance - 80,000 (78,560) (1,440) -
Total funds 790,370 80,000 (158,952) (1,440) 709,978

The Building Complex Fund

Zest Improvement Fund

Core Management Admin and Finance

This fund was where the various incoming resources were applied to meet the costs associated with the lease, design and construction work to the buildings. Depreciation is charged to this fund.

This fund was provided by the Social Enterprise Investment Fund and Sheffield City Council for improvements to the swimming pool roof. Depreciation is charged to this fund.

This fund was awarded to pay for the costs of some of the Upperthorpe Healthy Living Centre's revenue costs with the majority paying for the management of the centre. The remaining funds have been transferred to unrestricted funds.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

9 Unrestricted funds

9
Unrestricted funds
Balance at Balance at
1 April Incoming Resources 31 March
2023 resources expended Transfers 2024
£ £ £ £ £
2024
Unrestricted fund 152,292 - (15,471) (39,761) 97,060
Balance at Balance at
1 April Incoming Resources 31 March
2022 resources expended Transfers 2023
£ £ £ £ £
2023
Unrestricted fund 166,323 - (15,471) 1,440 152,292
10 Analysis of net assets between funds
Unrestricted Restricted
fund funds Total
2024 £ £ £
Tangible fixed assets 94,766 669,347 764,113
Current assets 54,954 - 54,954
Current liabilities (52,660) - (52,660)
Total net assets 97,060 669,347 766,407
Unrestricted Restricted
fund funds Total
2023 £ £ £
Tangible fixed assets 149,905 709,978 859,883
Current assets 3,251 - 3,251
Current liabilities (864) - (864)
Total net assets 152,292 709,978 862,270

11 Related party transactions

In accordance with FRS102 paragraph 33.1A the company has taken advantage of the exemption from disclosing transactions with its fellow group companies.

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Upperthorpe & Netherthorpe Healthy Living Centre Trust

Notes to the Financial Statements for the Year Ended 31 March 2024 (continued)

12 Parent and ultimate parent undertaking

The ultimate controlling party is Netherthorpe and Upperthorpe Community Alliance. No one individual has control over that organisation.

Netherthorpe and Upperthorpe Community Alliance (being the smallest and largest group of which the charitable company is a member for which group financial statements are prepared) prepares group accounts and copies can be obtained from The Zest Centre, 18 Upperthorpe, Sheffield, S6 3NA.

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